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As OPEC Cuts Back, U.S. Shale Fills Void

Oil Sunset

Friday March 3, 2016

In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy sector. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers.

Let’s take a look.

1. Saudi Aramco worth $2 trillion? Or 1/5th of that?

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- Saudi Arabia plans on putting up 5 percent of Aramco for an IPO, a move that could generate cash that the government wants to use to diversify the economy.
- Saudi officials say that the company is worth $2 trillion. If true, the 5 percent IPO could generate $100 billion.
- Wood Mackenzie thinks that is vastly overstating the case. The consultancy predicts Aramco is worth only $400 billion. The IPO, then, would only generate around $20 to $25 billion.
- Some Aramco officials agree that the company is worth less. Bloomberg says some insiders think the company is worth around $500 billion.
- Since the company’s assets are a state secret, it is difficult to know. But Aramco will have to disclose a lot of information ahead of the IPO.

2. U.S. oil production growing quickly

(Click to enlarge) 

- Bloomberg Gadfly makes the case that the latest rebound in shale drilling could result in faster production growth than the first shale boom years ago.
- The 2016-2017 growth period (red line in chart above) is moving higher than the 2011-2014 growth period did…




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